UPDATE: Deutsche Bank Reiterates, Raises PT on Torchmark Corporation Looking Past Temporary Setback
In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Torchmark Corporation (NYSE: TMK), and raised the price target from $80.00 to $81.00.
In the report, Deutsche Bank noted, “PT to $81; FY estimates unchanged. We raise our target price to $81 from $80 to account for a one-quarter valuation roll forward and a rise in the P/E valuation of the S&P. In spite of lower sales growth, our FY13-15 earnings estimates remain unchanged at $5.70, 6.30 and $6.95. We view any disappointment in sales as a temporary setback that will be rectified by 2Q14. Buy maintained.”
Torchmark Corporation closed on Friday at $73.36.
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